The McCain Feingold Act Summary

Limit on Funds Given

• No political party national committee may solicit for or receive any type of contribution or donation in the form of money or material items of value that go over the lawful fund limitations. This does not apply to money given by a state, district, or local committee
  
  

Reporting

• Anyone who gives a total amount of over $10,000 in funds for producing and airing election campaigns must report the amount to the Commission. The person filing a report with the Commission must give her identification her place of business and the amounts of each donation.
  
  

Spending

• If a candidate is awarded donations, he may only spend the money on legal expenditures related to the campaign, or she may donate the money to a national, state or local political party committee. Any personal use of funds, for example, using the funds for paying rent, buying clothes or a vacation, is illegal.